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Sunday, April 5, 2009

My three month experiment - Part II

When doing this experiment I knew I needed a spot for anything that might be left from the jars at the end of each week. I didn't to leave it in the jar with the new week's money for fear I'd see more money and have less control over what I bought.

I set up two envelopes for each jar category. One said "Weekly leftovers - and the category". Below were spots for each of the four weeks to write how much was saved/spent each week. The second envelope was where they money at the end of each month would go. Month 1 $__ saved. etc.

I have to admit it was a very intoxicating feeling to slide money from the jar into the weekly envelope, and then from there to the savings envelope at the end of each month.

I had decided that each savings envelope would have a purpose or a cap on it.

Gas - all leftover money would stay in there to be put towards oil changes, my basic insurance and then my package policy. Not saying I'd have that much saved but it would be a start.

Groceries - anything left at the end of the month went as a snowflake straight to the debt/savings target.

Household - anything left in there was being saved for a sectional sofa for downstairs as that furniture is in sad sad shape.

Spending - that is like my allowance. I use it for girl stuff. I decided to cap this savings envelope at $200 and one I have that, anything left each month would become a snowflake for debt /savings.

Dining Out - This too I decided to cap at $200. That would give me some extra if we had a special weekend away or a bit towards food for camping/holiday etc.

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Ok so how did I do after three months???

Gas - I did well here. I spent far less on gas than I thought but part of that was the price of gas coming down from $1.49.9 a L. I managed to save $460. woo hoo. My package policy was due Friday so I used $280 of it and then the oil change and inpsection Friday at the garage was $50. I have a whopping $140 left in it but the point is, I had money to pay for my policy!!! Unheard of.

Groceries - Over the three months I managed to send $377 towards debt. That was very exciting to be able to do.

Household - I have saved $200. I can see that if I want to buy a sectional, I will be a longggg time waiting or I have to find a heck of a deal. Still, it's something to look towards.

Dining - I have a problem with eating out/take out. I do I do I do. I managed to save $119 here. That leaves me with $81 to 'save' until this category is capped out and the rest goes to snowflake. I am looking forward to that extra money.

Spending - I really haven't allowed myself to buy anything. No books. 1 magazine in three months. basic cosmetics. No clothes. B O R I N G. I haved $138 here so that leaves me to save another $62 before this category too could potentially become a snowflake helper.

Not a bad three month experiement. I can certainly see where this has helped me. I can also see that if I actually am a good girl and SAVE before I buy something for the house, it will take a longggggggggggggg time.

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